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Aptos Price Analysis: APT Price On The Verge Of A Trend Reversal?

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Aptos Price Analysis: APT Price On The Verge Of A Trend Reversal?

Despite the market trading under a bearish influence, the APT price has managed to record profits of over 4% during the past day. The coin has displayed strong positive moves, resulting in the Aptos token adding significant value to its portfolio this year.

The APT price traded in a closed space between $6.7628 and $7.1615 for a while, following which the price gained momentum and broke out, but the rally was short-lived as the price faced rejection at $7.5603. The price then traded sideways for over two weeks.

During this time the coin displayed significant price volatility and constantly bounced between the range of $6.7628 and $7.5603. After multiple attempts to break out of the resistance level at $7.5603, the bulls lost momentum and recorded a correction of over 10% in value.

Aptos Price Analysis

TradingView: APT/USDT

Aptos price traded in a consolidated range between $6.7628 and $7.1615 for a while, after which the market regained momentum and the price jumped 10% in value. Following this, the price displayed significant price volatility and then recorded a jump of over 16% in value.

The price then faced rejection at $8.8025 and erased all its gains from the previous pump, resulting in the price hovering close to its support level of $7.5603.

Recently, the price regained momentum and jumped 22% in value before facing rejection at $9.2243. Since then, the price has been trading under a bearish influence and has recorded a loss of approximately 10% in its valuation.

Will Aptos Price Go Up?

The Relative Strength Index (RSI) displays a sharp decline in the chart, indicating an increased selling pressure for the coin in the market. Further, the averages show a bearish convergence, suggesting the price will continue losing value in the coming days.

If the bulls push the price above the resistance level of $8.4805, the price will regain power and make a run to test its upper resistance level of $9.2243. Maintaining the price at that level will set the stage for Aptos to attempt to test its upper limit of $10 by the month-end.

Conversely, if the bears continue to gain power, the price will fall to test its support level of $7.5603. Moreover, if the bears continue to dominate the market, it will plunge further and prepare to test its lower support level of $7.1615 in the coming days.

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